Video 1:30
ABC Business News and Market Analysis

ABC News
Tue 23 Apr 2013, 1:10 PM AEST

ABC Business News and Market Analysis

Transcript

THE COMPETITION WATCHDOG HAS GIVEN VIRGIN AUSTRALIA PERMISSION TO BUY THE MAJORITY SHARE OF RIVAL TIGER AIRWAYS. THE AUSTRALIAN COMPETITION AND CONSUMER COMMISSION SAYS TIGER AUSTRALIA HAS BEEN UNABLE TO ESTABLISH ITSELF AS A VIABLE COMPETITOR IN THE AUSTRALIAN MARKET.

IT BELIEVES COMPETITION WON'T BE THREATENED WHEN VIRGIN BUYS A SIXTY PER CENT STAKE.

THE COUNTRY'S PEAK TOURISM BODY HAS WELCOMED THE A-TRIPLE-C'S DECISION SAYING IT MEANS TIGER WILL CONTINUE TO OPERATE IN AUSTRALIA AND THAT'S A GOOD THING FOR TRAVELLERS.

INVESTORS HAVE WELCOMED THE DECISION TOO...

SHARES IN VIRGIN HAVE JUMPED... THE COMPANY IS EXPECTED CONTRIBUTE MOST OF THE 62 MILLION DOLLARS THAT TIGER AND VIRGIN ARE GOING TO SPEND ON IMPROVING THE AIRLINE..

IN COMPARISON QANTAS SEEING SMALLER RISE.

TAKING A LOOK AT BROADER MARKET...

THE ASX 200 UP MORE THAN ONE PER CENT ... MINING STOCKS MIXED AHEAD OF KEY CHINESE DATA.

OVERNIGHT WALL STREET WAS LED HIGHER BY TECH STOCKS...

GOLD PRICES CLIMBED FOR A FIFTH DAY AFTER THE BIGGEST PRICE SLUMP IN THREE DECADES LAST WEEK.

OIL'S MIXED

THE AUSTRALIAN DOLLAR'S UNDER PRESSURE

AUSTRALIAN MANUFACTURER SPC ARDMONA HAS BLAMED A HIGH AUSTRALIAN DOLLAR AND FALLING EXPORT MARKETS FOR A DECISION TO END ITS CONTRACT WITH ITS VICTORIAN SUPPLIERS.

THE FRUIT PROCESSOR WILL STOP TAKING FRUIT FROM VICTORIAN GROWERS AT THE END OF THE MONTH.

ABOUT 170 FARMERS WILL BE AFFECTED BY THE MOVE AND THE FRUIT GROWERS ASSOCIATION IS CALLING FOR GOVERNMENT ASSISTANCE